The Korea Times reports that South Korea has extended its term of copyright as required by its Free Trade Agreement with the United States. The government has pledged to allocate 160 billion won for the publishing industry to deal with the increased costs associated with the extension.
The Cost of Copyright Term Extension
One Comment
Recent Posts
Making the Case Against Its Own Bill: What the Government’s Bill C-34 Charter Statement Reveals About the Constitutional Vulnerability of the Social Media Ban 
“Position Has Not Changed”: The Canadian Government Reaffirms That Antisemitism Includes Anti-Zionism 
The Law Bytes Podcast, Episode 279: My Keynote on Digital Sovereignty: Control, Choice, and Connection 
The What, Me Worry? Consultation: Media Quietly Tells Government It Wants Even More Funding With Little Concern for Independence Risks 
Years of Uncertainty: Bill C-22’s Missing Regulations and Secret Ministerial Orders
By comparison…
160 billion won converts to approximately 170 million in US dollars. However, the U.S. economy is roughly 15 times large (GDP) than Korea.
By this measure, the cost to the U.S. pubishers of term extension was about $2.5 billion dollars.